Internet is holding huge amount of information gathered from various streams. All these data and information has some correlation and is necessarily interacting with each other. These massive volumes of data on the internet can be utilized as solutions to address various business problems through Big Data Analytics.
Data are undergoing very steep exponential growth. From terabytes to Exabyte to Zettabytes, the volume of data is soaring in the internet.
Data are from different sources or structure and these data sets include structured, semi-structured and unstructured data.
Volume : Data can be of high volumes and low density. For e.g. click streams on a web page
Velocity : The speed with which data is received, processed and acted on.
Variety : Data are many types as against the traditional way of processing structured and fit data. Data may include audio, video and texts that may require additional reprocessing to interpret meaning.
Value : Data has intrinsic value. This value has to be discovered for making big data useful to the fullest extend.
Veracity : It is the measure of how accurate and applicable the data is.
Big data helps in fetching complete answers that will build the confidence and help in building an approach to tackle challenging situations in any fields. Big Data is highly related in yielding optimized results with reference to product development, customer experience, predictive maintenance, operational efficiency and a number of other factors. Hence Big Data!